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News Now

Washington
Border Lodge CU closed by NCUA state regs
ALEXANDRIA, Va. (12/3/12)--Border Lodge CU, Derby Line, Vt., became the 11th federally insured credit union to be liquidated in 2012 when the Vermont Department of Financial Regulation closed the credit union to conserve the assets and protect the interests of credit union members.

The state regulators appointed the National Credit Union Administration (NCUA) as liquidating agent.

State-chartered Border Lodge CU began operations in 1963. The credit union served 1,097 members and held $3.1 million in assets at the time of its closure. The credit union served employees of varied and approved occupational groups who work within Orleans County, Vt., and members of the immediate families of such persons and associations composed primarily of the same people, according to the NCUA.

Member deposits at the credit union are insured up to $250,000 by the National Credit Union Share Insurance Fund.

For the full NCUA release, use the resource link.
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